Cadbury Nigeria Plc has reported 18 per cent decline in revenue in the first half of 2020.
In the unaudited financial statement released through the Nigerian Stock Exchange on Thursday, the company’s revenue stood at N15.917m in the first half of the year, down from the N19.455m reported in the corresponding period of 2019.
Cost of sales, however, improved by 18 per cent from N15.313m in H1, 2019 to N12.609m in H1 2020. While results from operating expenses showed a decline of 20 per cent to N714.698m from N888.776m filed in the same period of 2019.
Cadbury’s Profit Before Tax also declined by 20 per cent from N957.055m in H1 2019 to N766.657 in H1 2020.
This decline continues as Profit After Tax dropped by 20 per cent to N536.660m from N669.938m in H1 2019.
The company’s share capital remained unchanged at N939.101m, while its total equity expanded by two per cent to N13.191m from N12.895m reported in H1 2019.
